INTERNATIONAL BANK FOR RECONSTRUCTION AND
                             DEVELOPMENT

                              BOARD OF GOVERNORS




                                  Resolution No. 114

                      Terms and Conditions on which Tunisia
                    shall be Admitted to Membership in the Bank


   WHEREAS, the Government of Tunisia has applied for admission to membership in
the International Bank for Reconstruction and Development in accordance with Section
1(b) of Article II of the Articles of Agreement of the Bank; and

   WHEREAS, pursuant to Section 20 of the By-Laws of the Bank, the Executive
Directors, after consultation with representatives of the Government of Tunisia, have
made recommendations to the Board of Governors with regard to this application of said
country;

   NOW, THEREFORE, the Board of Governors hereby

RESOLVES:

    THAT the terms and conditions upon which Tunisia shall be admitted to membership
in the Bank shall be as follows:

1. Definitions: As used in this resolution:
   (a) “Bank� means International Bank for Reconstruction and Development.
   (b) “Articles� means the Articles of Agreement of the Bank.
   (c) “Dollars� or “$� means United States dollars of the weight and fineness in effect
       on July 1, 1944.
   (d) “Subscription� means the capital stock of the Bank subscribed to by a member.
   (e) “Member� means member of the Bank.

2. Subscription: By accepting membership in the Bank, Tunisia shall subscribe to 120
shares of the capital stock of the Bank at the par value of $100,000 per share.

3. Membership in the Fund: Before accepting membership in the Bank, Tunisia shall
accept membership in and become a member of the International Monetary Fund.

4. Payments on Subscription:
    (a) Before accepting membership in the Bank, Tunisia shall pay to the Bank:
         (i) Gold or United States dollars equal to 2% of its subscription, and
        (ii) An amount in the currency of Tunisia, which, at the appropriate prevailing
             exchange rate, shall be equal in value to 18% of its subscription.
                                                                  IBRD Resolution No. 114
                                                                               Page 2 of 2


    (b) Tunisia shall agree that, if it tenders any part of the payment called for in
        paragraph (a) (i) above in gold, the Bank shall have the right to reject any such
        gold which, in its opinion, may not be sold freely and unconditionally by the Bank
        to members requiring certification or other evidence as to the origin of gold
        purchased by them.

5. Representation and Information: Before accepting membership in the Bank, Tunisia
shall represent to the Bank that it has taken all action necessary to sign and deposit the
instrument of acceptance and sign the Articles as contemplated by paragraph 6(d) and (e)
of this resolution and Tunisia shall furnish to the Bank such information in respect of such
action as the Bank may request.

6. Acceptance of Membership: Tunisia shall become a member of the Bank, with a
subscription as set forth in paragraph 2 of this resolution, as of the date when Tunisia shall
have complied with the following requirements:
    (a) Become a member of the International Monetary Fund;
    (b) Made the payments called for by paragraph 4 of this resolution;
    (c) Furnished the representation, and such information as may have been requested,
        pursuant to paragraph 5 of this resolution;
    (d) Deposited with the Government of the United States of America an instrument
        stating that it has accepted in accordance with its law the Articles and all the terms
        and conditions prescribed in this resolution, and that it has taken all steps
        necessary to enable it to carry out all its obligations under the Articles and this
        resolution;
    (e) Signed the original copy of the Articles held in the Archives of the Government of
        the United States of America.

7. Limitation on Period for Acceptance of Membership: Tunisia may accept membership
in the Bank pursuant to this resolution until March 31, 1958; provided, however, that, if
extraordinary circumstances are deemed by the Executive Directors to warrant an
extension of the period during which Tunisia may accept membership pursuant to this
resolution, the Executive Directors may extend such period.



                                                           (Adopted on September 25, 1957)